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NATIONAL CREDIT AND CHARACTER. 1790.

THIS country will more and more experience the good effects of the steadiness, wisdom, and energy of her general government. The ability of America is now consolidated in an approved and adequate system, which will give consequence abroad and assure harmony and protection at home; whereas a number of little sovereignties were rather threaten­ing perpetual discord, with insecurity, and every effect opposed to the good sought by men in forming governments, for the protection of their persons, and of the wages of their labour and care, against bad people at home and enemies abroad.

UNDER this efficacious, mild, and free govern­ment, over an extensive and fine country, we have now before us a report of the price of her freedom, and of the means for satisfying her creditors; which is nervous, clear, and promising, as it also is ho­norable to the abilities and integrity of the Secretary of her Treasury. It offers nought to inthral its honest purpose of performing what this people na­tionally promised they would perform, and for which they have a consideration; though indeed in national engagements a consideration, or value re­ceived, is not necessary to give validity to them. What, between man and man, would be nudum [Page 2]pactum, is not considered as such respecting a govern­ment or state. A national promise requires the most ready and complete performance, in all cases, and will not admit of circumlocution or modification, however smooth the presence. Governments sus­pected to be capable of committing a breach of faith in trimming their engagements, whatever be the plausible advantages proposed, will be in low credit; and, when trusted, must pay a premium, in a high interest, for estimated risques.

A FULL unequivocal performance of engagements, in every iota, stamping a character of inflexible integrity in the sovereign authority of a nation, will communicate to such nation the highest credit and respect with the attendants national health and abi­lity: whereas, nations deficient therein, will want, will be weak, will be deranged will be necessitous; and must pay at dear and ruinous rates. It is opinion, alone, of this invincible integrity in a sovereign power, that commands the loans and the confidence of individuals and nations upon the cheapest and best terms: but to obtain or preserve this opinion every step, every word, every thought of sovereigns, re­specting their engagements, must be unequivocal, and with assurance that "though they promise to their loss, they will make then promise good."

SOVEREIGNS cannot be sued; because they are not amenable in their own or other national co [...]s; therefore, if they [...]isle in performing their engage­ments, or but presume to hint that they can alter them in a little, distrust is awakened, and becomes alert: the consequence whereof is, the nation sinks [Page 3]in her character, credit, and power, in proportion to the degree of distrust,—and where will distrust, or a dread of loss founded on apprehensions of insincerity or ignorance in supremacy * —where will it end! Even in the course of enacting laws on other common occasions, a weakness appearing in them cheapens a legislature, in the judgment of the world, and lessens energy in the government; for it lessens opinion of the abilities of her public men; which mars confidence in the government tinged with ignorance or affected with caprice: this assur­edly is a sink to public credit.

[Page 4] INDIVIDUALS perform their contracts from honest principle, or to support character for future advan­tages, or to avoid compulsion, with cost and shame, in the courts of justice: governments are quickened in the performance of theirs to promote their credit and character; without which their consequence and power are contemptible. On national character de­pends all credit—all power—and all public happiness.—In a word, integrity united with wisdom, is the essen­tial,—the sine qua non of the independence and hap­piness of nations.

B.

Printed by DANIEL HUMPHREYS, Front-street, near the Drawbridge, Philadelphia.—M.DCC.XC.

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